US economy grows at brisk 3.4% pace in third quarter on strong consumer spending and AI investment

The U.S. economy grew at a 3.4% annual pace from July through September

Growth accelerated from 2.2% in the second quarter (April-June)

Consumer spending rose at a 3.8% clip in the third quarter

Business investment was up sharply, reflecting the AI boom

April through June: GDP grew at a 2.2% annual pace · July through September: GDP grew at a 3.4% annual pace, consumer spending rose 3.8% · Thursday: Commerce Department released its first estimate of Q3 GDP growth

3.4% Q3 GDP growth · 2.2% Q2 GDP growth · 3.8% Consumer spending growth · 3% Expected GDP growth